C000104241 Fees and Costs — Highland Energy MLP Fund, Class A
Data updated: 2019-12-16
The net expense ratio is 7.51%: a 1.00% management fee, a 0.25% 12b-1 fee plus 7.74% other expenses, less a 1.48% fee waiver. This share class carries a maximum front-end sales load of 5.75%. In fiscal 2019 the fund paid $6K in broker commissions, 0.0256% of average net assets, and portfolio turnover was 15%.
C000104241 Fees and Expenses
Annual operating expenses and sales charges of C000104241. Prospectus, as of January 31, 2019.
| Annual operating expenses | |
|---|---|
| Management fee | 1.00% |
| 12b-1 fee | 0.25% |
| Other expenses | 7.74% |
| Gross expense ratio | 8.99% |
| Fee waiver | −1.48% |
| Net expense ratio | 7.51% |
| Sales charges | |
|---|---|
| Max front load | 5.75% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
C000104241 Costs Over Time
On $10,000 invested in C000104241, assuming 5% a year before costs, total costs come to $4,633 over 5 years, cutting the return by 9.06% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Sales charges | $575 | $575 | $575 |
| Fund expenses (net expense ratio 7.51%) | $743 | $2,165 | $3,506 |
| Trading costs (broker commissions) | $3 | $7 | $12 |
| Lost growth on money paid in costs | $29 | $203 | $540 |
| Total costs | $1,349 | $2,951 | $4,633 |
| Value after costs | $9,151 | $8,625 | $8,130 |
| Impact on return, per year | 13.49% | 9.81% | 9.06% |
C000104241 Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2019.
- Explicit cost rate (commissions ÷ average net assets): 0.0256%
- Total broker commissions: $6K
- Bought from dealers (principal trades, not a cost): $1000K
- Portfolio turnover (prospectus): 15%
- Securities lending: none during the year
C000104241 Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Friedman Billing & Ramsey | $3K | 46.03% |
| MKM PARTNERS | $1K | 20.14% |
| HEIGHT SECURITIES | $887 | 14.29% |
| SUNTRUST CAPITAL MARKETS INC. | $800 | 12.89% |
| JONES & ASSOCIATES | $413 | 6.65% |
C000104241 Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| IMPERIAL CAPITAL | $1000K | 100.00% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.